Let’s be real—when the White House hints that “if something happens” in Venezuela, oil prices could tumble, you can’t help but wonder what’s bubbling beneath the surface. Is this a strategic chess move or just another roll of the geopolitical dice? The answer, as it turns out, might be a bit of both.
According to Scott Bessent, the United States Treasury Secretary, there’s a neat little economic benefit surfacing from President Donald Trump’s peace deals, and the cherry on top is that oil prices might nosedive further. All it requires is “something happening” in Venezuela or the ongoing Russia-Ukraine saga. During a chat with Fox News’ Laura Ingraham, Bessent pointed out that the peace dividends are paying off and that a potential development in these countries could push oil prices even lower than they are now.
Now, why should you care? Here’s the kicker: Venezuela, despite its well-documented struggle with economic chaos and inflation that resembles a Hollywood horror flick, stands as an important player in the global oil market. The U.S. cranking up the heat with military maneuvers—over 20, to be exact—on so-called narcotic-sprouting vessels has certainly added to the tension. Throw in a few extra military assets lounging in the Caribbean, and you’ve got yourself a recipe for volatile change or further disruption.
These tensions aren’t just abstract global anecdotes; they’re a direct line affecting oil markets and your wallet at the gas pump. The cost of oil ripples through to the price tags on everything from the essentials you toss in your grocery cart to the energy bill that lands in your mailbox. And let’s face it, lower oil prices might make life a bit more palatable amidst all the other chaos we’re navigating.
But let’s not get ahead of ourselves. This dance with diplomacy and military posturing is about more than just dollars and cents. There’s also the looming specter of narcoterrorism and the intrinsic quest for power and resources underneath the political rhetoric. Venezuela’s President Nicolás Maduro, in a CNN tête-à-tête, threw shade on the U.S. actions, branding them as covert regime change attempts. He’s accused the U.S. of using the sanctions like a battering ram on Venezuela’s economy.
And while President Maduro grandstanded against “forever wars,” the U.S. went ahead and identified the Venezuela-based Cartel de los Soles as a Foreign Terrorist Organization, turning up the dial on potential action. This is earmarked to take effect on November 24—mark your calendars, folks.
So, what’s next in this geopolitical thriller? That’s anyone’s guess, but Treasury Secretary Bessent seems optimistic about what’s to come. “I’m very confident about job growth and the momentum we’ve got for next year,” he quipped, clearly aligning economic prospects with geopolitical strategies. But until something tangible “happens” in Venezuela or on the Russia-Ukraine front, all we can do is watch and wait. Like any great cliffhanger, it’s all about the build-up.
Source: Read the full story here.